Re: Re: Should we be buying in Spain in 2011?

#103225
Anonymous
Participant

Rialto,

As it happens our personal circumstances – some time to retirement, cash in the bank, etc – are very similar.

I started following this market closely, together with the Spanish economy, some two and a half years ago. In that whole time I’ve had people telling me, on here and elsewhere, to “buy now, you’ll never get a better price” or the like. Rather than listen to them I have preferred to keep my eye on the fundamentals. On the costas these are:
– Huge over supply
– High unemployment
– Prices too high relative to incomes
– Financial problems and austerity measures in feeder countries

The bottom line here is that prices have been falling for four years and pretty well every independent follower of the market expects this trend to continue for some time yet. My guess is around 2 years but the truth is that nobody really knows.

Logan’s advice is sound. Take your time. Follow the market. Be sceptical about what people, particularly those with vested interests, try telling you.

I also happen to be looking in the same area as you. Torrox as it happens doesn’t really do much for me. I’m pretty sure I’ll end up in either Nerja or Frigliana.